Dollar sign in lifesaver  Once an employer begins laying off massive numbers of employees, and those employees are unable to afford COBRA continuation coverage, the employer’s risk pool begins to shrink drastically, causing a cascade effect. (Image: Shutterstock)

As political leaders remain unable to reach a deal on a new pandemic relief bill, millions of Americans are on the precipice of financial ruin. Enhanced unemployment benefits have run out, eviction moratoriums are expiring, and a resurgent COVID-19 continues to wreak havoc on the economy. Employers, particularly those in the retail and hospitality industries, have laid off millions of workers and many expect significantly more job cuts in the fall.

For the 159 million Americans with employer-sponsored health insurance coverage, losing a job means losing health insurance for themselves and often for their family members. One proposal, contained within the HEROES Act (which passed the House of Representatives back in May), could protect the employer-sponsored coverage market and ensure that millions of people maintain their health insurance coverage during this once-in-a-century public health crisis.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.